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Young Company Lends Dobson Industries $40,000 on August 1, 2022

Question 171

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Young Company lends Dobson industries $40,000 on August 1, 2022, accepting a 9-month, 9% interest note.If Young prepares its financial statements as of December 31, 2022, what adjusting entry must it make?. Young Company lends Dobson industries $40,000 on August 1, 2022, accepting a 9-month, 9% interest note.If Young prepares its financial statements as of December 31, 2022, what adjusting entry must it make?.

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